Alliance Data Systems (ADS) has agreed to buy the existing private-label credit card portfolio of jewelry retailer Premier Designs.
The financial terms of the deal, which is expected to close in the second quarter, were not disclosed. Alliance would not identify the seller and a representative for Premier did not respond to an email.
The size of the portfolio was also not disclosed, though Alliance Data said in a news release that the accounts it purchased represented a "modest-size portfolio."
Premier Designs, headquartered in Irving, Texas, is a direct sales jewelry company that sells its merchandise through a network of individuals rather than in stores. Alliance Data has also signed a long-term agreement to provide private-label credit services for the independent sellers who work with Premier Designs.
The independent sellers will be able to use the card program to purchase merchandise for displays and as a way to process orders received, Alliance Data, based in Dallas, said Thursday.
